60865    From 1899 to 1930, he financed and challenged the Cup five times using his own fortune.

60866    He lost every time.

60867    He never realized his dream of capturing the Cup, an event which has been described as "pouring water into a bottomless pitcher," but many people were moved by the millionaire's romance with the sea.

60868    Things were worse for Frenchman Baron Marcel Bich, founder of the Bic ball-point pen empire.

60869    From the 1970's, when Cup challengers became numerous, he tried four times for the Cup, only to be defeated each time in the Challengers' rounds.

60870    These millionaires' dreams were finally realized in 1983 with the Australian yacht, the Australia2.

60871    The up-and-coming entrepreneur Alan Bond, an immigrant who worked his way up with a string a successful business ventures, first challenged the Cup in 1974.

60872    He took the Cup away from the US in a yacht filled with epoch-making new technology.

60873    In order to participate in the America's Cup, a yacht must first advance past the preliminary Louis Vuitton or Citizen Cups.

60874    The method of competing in those Series and the America's Cup is as follows.

60875    Competition begins January 14.

60876    The first round robin race for each team takes place.

60877    The winner receives one point.

60878    Following are the second, third and fourth round robin races, and the four teams with the most points advance to the semi finals.

60879    There are three round robin races in the semi finals, and the top two teams advance to the finals.